FreightCar America, Inc. (NASDAQ:RAIL) Sees Significant Growth in Short Interest

FreightCar America, Inc. (NASDAQ:RAIL) was the recipient of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 587,800 shares, an increase of 41.6% from the February 28th total of 415,100 shares. Currently, 4.1% of the shares of the company are sold short. Based on an average daily volume of 229,500 shares, the short-interest ratio is presently 2.6 days.

FreightCar America Trading Down 4.5 %

Shares of RAIL traded down $0.25 during midday trading on Tuesday, reaching $5.28. 174,911 shares of the company were exchanged, compared to its average volume of 238,300. FreightCar America has a 1-year low of $3.02 and a 1-year high of $16.10. The stock has a 50-day moving average price of $9.14 and a 200-day moving average price of $10.35. The company has a market cap of $100.64 million, a price-to-earnings ratio of -1.25 and a beta of 2.08.

FreightCar America (NASDAQ:RAIL) last posted its earnings results on Wednesday, March 12th. The transportation company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.16. FreightCar America had a negative net margin of 20.66% and a negative return on equity of 27.10%. The firm had revenue of $137.70 million during the quarter, compared to analyst estimates of $152.02 million. Equities research analysts anticipate that FreightCar America will post 0.09 earnings per share for the current year.

Institutional Trading of FreightCar America

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Consolidated Portfolio Review Corp bought a new position in shares of FreightCar America in the 4th quarter worth $743,000. Barclays PLC acquired a new position in FreightCar America in the 3rd quarter valued at $73,000. JPMorgan Chase & Co. increased its stake in FreightCar America by 98.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,599 shares of the transportation company’s stock worth $50,000 after acquiring an additional 2,281 shares during the period. Walleye Capital LLC acquired a new stake in FreightCar America during the third quarter worth about $813,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of FreightCar America by 90.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 188,369 shares of the transportation company’s stock valued at $1,688,000 after buying an additional 89,471 shares in the last quarter. Institutional investors own 31.96% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of FreightCar America from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 26th.

FreightCar America Company Profile

FreightCar America, Inc, through its subsidiaries, engages in design, manufacture, and sale of railcars and railcar components for the transportation of bulk commodities and containerized freight products in the United States and Mexico. It operates in two segments, Manufacturing and Parts. The company offers a range of railcars, including open top hoppers, mill gondola cars, intermodal and non-intermodal flat cars, coal cars; bulk commodity cars covered hopper cars, coil steel cars, boxcars, woodchip hoppers, aluminum vehicle carriers, and articulated bulk container railcars.